Asked by Jenae Jenkins on Jun 30, 2024
Verified
Determine the ending capital balance of a business which had a beginning capital balance of $2,950, additional investments of $500, withdrawals of $750, Revenue of $3,800, and Expenses of $2,600.
$ ________
Ending Capital Balance
Ending capital balance is the amount of money a company has in its capital account at the end of a financial period after all financial transactions have been accounted for.
Beginning Capital Balance
The amount of capital at the start of a financial period before any transactions have been accounted for during the period.
Withdrawals
Money or assets taken out from a business by its owner for personal use or from a bank account by the account holder.
- Comprehend the fundamentals of managing capital through the study of investments, withdrawals, and their consequences on owner's equity.
Verified Answer
AK
Learning Objectives
- Comprehend the fundamentals of managing capital through the study of investments, withdrawals, and their consequences on owner's equity.